Peerless Consultancy Services Pvt. Ltd. filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against United News of India, claiming an outstanding operational debt. The Corporate Debtor was interested in setting up a UNI Digital Media and Satellite Channel and was looking for a strategic partner. The petitioner expressed interest and gave a cheque of Rs. 1.5 Crores, dated 5th January, 2015, which was duly encashed. An agreement was to be executed within 30 days, but the parties couldn't agree on the terms. The amount was to be returned by the Corporate Debtor, but they failed to do so despite a legal notice and a statutory demand notice under Section 8 of the IBC.
Peerless Consultancy Services Pvt. Ltd. (the petitioner) filed a petition against United News of India (the respondent/corporate debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming an outstanding operational debt. The Corporate Debtor was planning to establish a UNI Digital Media and Satellite Channel and sought a strategic partner. The Petitioner showed interest and provided a cheque of Rs. 1.5 Crores dated January 5, 2015, which was encashed. The parties were supposed to execute an agreement within 30 days, but they failed to agree on the terms and conditions. The amount was to be returned by the Corporate Debtor. A statutory demand notice under Section 8 of the Insolvency & Bankruptcy Code was issued on March 21, 2018, and received by
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Peerless Consultancy Services Pvt. Ltd. issued…
A statutory demand…
Peerless Consultancy Services Pvt. Ltd. filed a petition under Section 9 of the Insolvency & Bankruptcy Code, 2016, against United News of India, claiming an outstanding operational debt. The Corporate Debtor was interested in setting up a UNI Digital Media and Satellite Channel and was looking for a strategic partner. The petitioner expressed interest and gave a cheque of Rs. 1.5 Crores, dated 5th January, 2015, which was duly encashed. An agreement was to be executed within 30 days, but the parties couldn't agree on the terms. The amount was to be returned by the Corporate Debtor, but they failed to do so despite a legal notice and a statutory demand notice under Section 8 of the IBC.
Peerless Consultancy Services Pvt. Ltd. (the petitioner) filed a petition against United News of India (the respondent/corporate debtor) under Section 9 of the Insolvency & Bankruptcy Code, 2016, claiming an outstanding operational debt. The Corporate Debtor was planning to establish a UNI Digital Media and Satellite Channel and sought a strategic partner. The Petitioner showed interest and provided a cheque of Rs. 1.5 Crores dated January 5, 2015, which was encashed. The parties were supposed to execute an agreement within 30 days, but they failed to agree on the terms and conditions. The amount was to be returned by the Corporate Debtor. A statutory demand notice under Section 8 of the Insolvency & Bankruptcy Code was issued on March 21, 2018, and received by
…Peerless Consultancy Services Pvt. Ltd. issued…
A statutory demand…